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Add ICRA Ltd For Target Rs. 6,700 - Yes Securities RA’s full participation in the extant ratings cycle has been a function 1) reorganization of ratings team structure with sharpened sectoral rigor, 2) restructuring of business development team on lines of key sectors, 3) strong ratings performance and timely actions, 4) focus on remunerative and appropriate pricing/yields, and 5) inherent strength (leading market position) in faster growing sectors (Financial incl. Securitization, and Infra) and Bond Ratings (issuances have increased in...
Add ICRA Ltd For Target Rs. 6,700 - Yes Securities
Add ICRA Ltd For Target Rs. 6,700 - Yes Securities
Source: Yes Securities Ltd
9/09/2023 11:20:06 AM
Add ICRA Ltd For Target Rs.6,700 - Yes Securities Ratings on firm wicket, Analytics may see choppiness Ratings business in fine fettle led by macro and micro factors ICRA’s full participation in the extant ratings cycle has been a function 1) reorganization of ratings team structure with sharpened sectoral rigor, 2) restructuring of business development team on lines of key sectors, 3) strong ratings performance and timely actions, 4) focus on remunerative and appropriate pricing/yields, and 5) inherent strength (leading market p...
Add ICRA Ltd For Target Rs.6,700 - Yes Securities
Add ICRA Ltd For Target Rs.6,700 - Yes Securities
Source: Yes Securities
8/09/2023 3:21:17 PM
Indian aviation sector to grow 8-13% in FY24:ICRA Credit rating agency ICRA predicts the domestic air passenger traffic to grow at 8-13 per cent in FY24 to touch 150-155 million. The agency maintained a Stable outlook on the Indian aviation industry amidst the continued recovery in domestic and international air passenger traffic in FY2024, and improved pricing power of the carriers. According to ICRA, it estimates growth in domestic air passenger traffic in FY2024 at 8-13 per cent, thus reaching 150-155 million, surpassing the pre-C...
Indian aviation sector to grow 8-13% in FY24:ICRA
Indian aviation sector to grow 8-13% in FY24:ICRA
Source: IANS
7/09/2023 3:04:48 PM
ICRA revises outlook on petrochemicals, basic chemicals industries to negative from stable Rating agency Icra has said that it has revised the outlook on the petrochemicals and basic chemicals industries to negative from stable due to weak demand and global supply glut. It said that the petrochemical and basic chemicals industries are likely to face pressure on operating rates and profitability. Further, it stated outlook on specialty chemicals remains stable, with profitability expected to moderate in FY2024, but not trigger an outlook change at this stage. According to Prashan...
ICRA revises outlook on petrochemicals, basic chemicals industries to negative from stable
ICRA revises outlook on petrochemicals, basic chemicals industries to negative from stable
Source: Accord Fintech
7/09/2023 10:59:57 AM
Net office leasing across 6 cities likely to drop 10% in FY24: ICRA ICRA has said net leasing of office space across six major cities is estimated to decline by 10 per cent this fiscal (FY24), from 57 million square feet in the previous year. These top six cities are Mumbai, Bengaluru, Delhi-NCR, Hyderabad, Chennai, and Pune. Its sample includes 22 commercial office operators totalling 165 million square feet area. The fall in office demand coupled with an influx of huge supply in FY24, would result in a marginal rise in vacancy levels by 60 basis points t...
Net office leasing across 6 cities likely to drop 10% in FY24: ICRA
Net office leasing across 6 cities likely to drop 10% in FY24: ICRA
Source: Accord Fintech
6/09/2023 10:12:45 AM
Implementation of multiple proposed regulatory specifications can push up commercial vehicle prices by 10-12%: ICRA Ratings agency ICRA in its report on the Indian commercial vehicle industry has said that Implementation of multiple proposed regulatory specifications can push up commercial vehicle prices by 10-12 per cent. It said the domestic automotive industry is undergoing rapid transformations, with increased focus by the government on implementing emission norms, safety systems and other standards that will bring the country at par with other major automotive markets. It stated ‘Within the I...
Implementation of multiple proposed regulatory specifications can push up commercial vehicle prices by 10-12%: ICRA
Implementation of multiple proposed regulatory specifications can push up commercial vehicle prices by 10-12%: ICRA
Source: Accord Fintech
5/09/2023 10:31:27 AM
Indian IT services sector's revenue growth will slow down to 3-5% in FY24: Icra Icra Ratings in its latest report has said that Indian IT services sector's revenue growth will slow down to 3-5 per cent in the current fiscal (FY24) from 9.2 per cent in the previous financial year. It said the profitability will also take a beating in this financial year and the operating profit margin will narrow by up to 1 percentage point to 20-21 per cent. It said Indian IT services companies witnessed a sharp moderation in growth momentum between Q3 FY23 to Q1 FY24 owing to the...
Indian IT services sector's revenue growth will slow down to 3-5% in FY24: Icra
Indian IT services sector's revenue growth will slow down to 3-5% in FY24: Icra
Source: Accord Fintech
30/08/2023 10:23:08 AM
Indian IT industry expected to grow 3-5% revenue in 2024, lower than 2023 The Indian IT industry is expected to see moderate revenue growth of 3 to 5 per cent in FY2024, lower than 9.2 per cent (year-on-year) growth in FY2023, a new report said on Tuesday. According to the credit rating agency ICRA, key sectors like BFSI, retail, technology, and communication are expected to slow down discretionary IT spending. The operating profit margin is expected to decline by 70-100 bps in FY2024 due to lower operating leverage. "The operating profit margin (OPM)...
Indian IT industry expected to grow 3-5% revenue in 2024, lower than 2023
Indian IT industry expected to grow 3-5% revenue in 2024, lower than 2023
Source: IANS
29/08/2023 2:13:08 PM
ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, announced receiving fresh ratings for proposed Non-Convertible Debenture (NCD) borrowing programmes from ICRA and India Ratings and Research Private Limited for INR 2,000 crore and INR 2,500 crore, respectively. Additionally, the long-term rating for existing bank facilities of INR 4,500 crore was reaffirmed at [ICRA]AA+/[ICRA]A1+ along with the existing NCD of INR 3,000 crore reaffi...
ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore
ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore
Source: PR Agency
21/08/2023 11:30:45 AM
Bajaj Finance Fixed Deposits cross Rs 50,000 crore Bajaj Finance Limited, one of India’s leading and diversified Non-Banking Financial Company, and part of Bajaj Finserv, today said its Fixed Deposits book had crossed a milestone of Rs. 50,000 crore. Bajaj Finance has half a million depositors, with each depositor having placed 2.87 deposits, totalling 1.4 million deposits. Bajaj Finance has the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL, ICRA, CARE and India Ratings, A1+ for its short-te...
Bajaj Finance Fixed Deposits cross Rs 50,000 crore
Bajaj Finance Fixed Deposits cross Rs 50,000 crore
Source: PR Agency
18/08/2023 6:25:18 PM
ICRA maintains Stable outlook on Indian hospital industry Rating agency ICRA maintains its Stable outlook on the Indian hospital industry, supported by expectations of healthy revenue growth and strong margins for ICRA’s sample set, led by the rising incidence of non-communicable lifestyle diseases, growing per capita spend on healthcare and awareness levels, increasing penetration of health insurance and higher medical tourism volumes. ICRA expects the aggregate occupancy for its hospital industry’s sample set to remain strong at 63-...
ICRA maintains Stable outlook on Indian hospital industry
ICRA maintains Stable outlook on Indian hospital industry
Source: Accord Fintech
17/08/2023 12:33:58 PM
Revenue of top domestic pharmaceutical firms to grow by 7-9% in current fiscal: Icra Rating agency Icra has said that revenue of top domestic pharmaceutical companies is likely to grow by 7-9 per cent in the current fiscal (FY24). It noted the growth will be supported by an 8-10 per cent expansion in the domestic market and a 6-8 per cent rise in the US market, while revenues from the European and emerging markets are expected to increase by 3-5 per cent and 8-10 per cent, respectively. Agency said it has taken into account a sample set of 25 Indian drug firms, which const...
Revenue of top domestic pharmaceutical firms to grow by 7-9% in current fiscal: Icra
Revenue of top domestic pharmaceutical firms to grow by 7-9% in current fiscal: Icra
Source: Accord Fintech
26/07/2023 10:06:27 AM
ICRA revises upward growth outlook for NBFC-Retail and HFC-Retail Credit rating agency ICRA in its latest report has revised upward the growth outlook for the current financial year (FY24) for the retail loans of Non-Bank Financial Companies (NBFC-Retail) and Housing Finance Companies (HFC-Retail), which account for the bulk of the overall sector. According to the report, the NBFC-Retail asset under management (AUM), estimated at around Rs 14 lakh crore as of March 2023, is expected to grow at a higher pace of 18-20 per cent in FY24 vis-a-vis the previou...
ICRA revises upward growth outlook for NBFC-Retail and HFC-Retail
ICRA revises upward growth outlook for NBFC-Retail and HFC-Retail
Source: Accord Fintech
21/07/2023 11:29:55 AM
Premium hotel occupancy in India to be at decadal-high of 70-72% in FY24: ICRA Ratings agency ICRA in its latest report has said that premium hotel occupancy in India is estimated to be at a decadal-high of 70-72 per cent in FY2024 after recovering to 68-70 per cent in FY2023. It also said premium hotel average room rates (ARRs) are expected to be at Rs 6,000 to Rs 6,200 in FY2024. It noted that consistent improvement in consumer sentiments despite the inflationary environment, stable corporate performance, and domestic air passenger traffic inching above pre-Covid leve...
Premium hotel occupancy in India to be at decadal-high of 70-72% in FY24: ICRA
Premium hotel occupancy in India to be at decadal-high of 70-72% in FY24: ICRA
Source: Accord Fintech
20/07/2023 11:16:47 AM
Indian government may delay Hindustan Zinc share sale - sources The Indian government may postpone its plans to sell its stake in Hindustan Zinc until a turnaround in the industry's fortunes, following advice from merchant bankers, two government sources told Reuters. The government though, still hopes to push through the long-delayed sale this financial year, one of the sources said. The government plans to sell its over 29% stake in tranches, starting with the sale of about 5% stake. Vedanta Group holds a 64.9% stake. Hindustan Zinc's s...
Indian government may delay Hindustan Zinc share sale - sources
Indian government may delay Hindustan Zinc share sale - sources
Source: Accord Fintech
19/07/2023 12:07:56 PM
Operating margins of Indian cotton spinning companies likely to improve to 11.5%-12% in FY24: ICRA The rating agency ICRA in its latest report has said that the despite lower revenues, operating margins of Indian cotton spinning companies is likely to improve by 50 - 100 bps to 11.5%-12% in FY2024. The spinners are expected to benefit from the operating efficiencies arising from higher volumes, and lower logistics expenses as the blockages at the ports in various regions have started to ease, accompanied by a reduction in container freight rates. Nonetheless, profits and cash accruals of s...
Operating margins of Indian cotton spinning companies likely to improve to 11.5%-12% in FY24: ICRA
Operating margins of Indian cotton spinning companies likely to improve to 11.5%-12% in FY24: ICRA
Source: Accord Fintech
14/07/2023 11:48:08 AM
ICRA maintains domestic tyre demand growth forecast at 6-8% for FY24 The rating agency ICRA in its latest report has maintained its domestic tyre demand growth forecast at 6-8% for FY2024 on the back of favourable demand from the original equipment manufacturer (OEM) segment and expected revival in replacements. An improved product mix and range-bound input costs are expected to enhance the margins by 200-300 bps in FY24.  According to the report, the OEM segment is expected to grow by 7-9% YoY in FY2024 on the back of favourable prospects for most of ...
ICRA maintains domestic tyre demand growth forecast at 6-8% for FY24
ICRA maintains domestic tyre demand growth forecast at 6-8% for FY24
Source: Accord Fintech
13/07/2023 1:20:14 PM
Securitisation volumes estimated at Rs 53,000 crore in Q1 FY24: ICRA Rating agency ICRA in its latest report has said that securitisation volumes, originated primarily by non-banking financial companies (NBFCs) and housing finance companies (HFCs), are estimated at Rs 53,000 crore in Q1 FY24, reflecting a strong growth of 60% over the Rs 33,000 crore securitised in Q1 FY23.  The report stated that the securitisation volumes, combining both direct assignments and pass-through certificates, have been witnessing a healthy recovery after the impact of the ...
Securitisation volumes estimated at Rs 53,000 crore in Q1 FY24: ICRA
Securitisation volumes estimated at Rs 53,000 crore in Q1 FY24: ICRA
Source: Accord Fintech
7/07/2023 11:23:44 AM
Earnings of domestic non-ferrous metal industry players to remain weak in FY24: ICRA Credit Rating Agency ICRA in its latest report has said that the earnings of domestic non-ferrous metal industry players is expected to remain weak in the ongoing fiscal (FY24), after a lacklustre performance in the last fiscal. Significant metal price corrections remain the key headwind affecting the margins, with no immediate relief in sight. The moderation in earnings, combined with the committed expansion plans of the players, is expected to increase the industry’s leverage in FY24....
Earnings of domestic non-ferrous metal industry players to remain weak in FY24: ICRA
Earnings of domestic non-ferrous metal industry players to remain weak in FY24: ICRA
Source: Accord Fintech
28/06/2023 11:27:45 AM
ICRA and CRISIL enhance Commercial Paper limits of Godrej Properties Limited to INR 2000 crore Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, announced the enhancement in the Commercial Paper (CP) limits to INR 2000 crore from INR 1750 crore by ICRA and CRISIL. Additionally, ICRA has assigned long-term rating of AA+(“stable”) for fresh Non-Convertible Debenture (NCD) of INR 2000 crore. Highlights: Credit Rating for Commercial Paper (CP) limits enhanced to INR 2,000 crore from INR 1,750 crore by ICRA and C...
ICRA and CRISIL enhance Commercial Paper limits of Godrej Properties Limited to INR 2000 crore
ICRA and CRISIL enhance Commercial Paper limits of Godrej Properties Limited to INR 2000 crore
Source: PR Agency
23/06/2023 12:42:28 PM
Revenue growth of fashion retailers to moderate in FY24 amid inflationary headwinds: ICRA Credit rating agency ICRA in its latest report has said that after reporting a stellar 51% YoY revenue growth in FY2023, revenue growth of fashion retailers is set to moderate in the current fiscal (FY24) amid inflationary headwinds. According to ICRA’s most recent industry analysis, revenue growth of 11 listed retail entities in its sample set will moderate to 10% in FY2024. It said their operating profit margins (OPMs) are also expected to decline by 100 bps to around 5.7%, given the ...
Revenue growth of fashion retailers to moderate in FY24 amid inflationary headwinds: ICRA
Revenue growth of fashion retailers to moderate in FY24 amid inflationary headwinds: ICRA
Source: Accord Fintech
20/06/2023 12:00:46 PM
India Inc. witnessed sequential expansion in margins in Q4 FY23: ICRA Credit rating agency ICRA in its latest report has said that India Inc. have witnessed sequential expansion in margins in Q4 FY2023, with a YoY increase of 11.4%, while the sequential revenue growth was relatively moderate at 5.2%. On a YoY basis, almost all sectors reported revenue expansion in Q4 FY2023, with aviation, hotels, ports and gems & jewellery leading the trend. This was supported by the easing of commodity prices which continued to positively impact consumer sentiments. ...
India Inc. witnessed sequential expansion in margins in Q4 FY23: ICRA
India Inc. witnessed sequential expansion in margins in Q4 FY23: ICRA
Source: Accord Fintech
7/06/2023 11:26:39 AM
India`s goods and services tax receipts rise 12% y/y in May India's goods and services tax (GST) collections rose 12% year-on-year to 1.57 trillion rupees ($19.06 billion) in May, a government statement showed on Thursday. The government collected 1.41 trillion rupees as GST in May 2022 and a record 1.87 trillion rupees in April. It expects to garner 9.56 trillion rupees through GST in the current fiscal year that ends in March 2024. The western state of Maharashtra clocked a 16% year-on-year growth in tax receipts to 235.36 billion rupee...
India`s goods and services tax receipts rise 12% y/y in May
India`s goods and services tax receipts rise 12% y/y in May
Source: Reuters
1/06/2023 6:28:16 PM
Retail exposures of NBFCs likely to expand by 12-14% in FY24: ICRA Credit Rating Agency ICRA in its latest report has said that the retail exposures of non-banking financial companies (NBFCs, excluding housing finance companies) are likely to expand by 12-14% in the current fiscal (FY24) with unsecured loans remaining the key driver; this follows the robust growth of 25% in FY23. The assets under management (AUM) exceeded Rs 14 trillion as of March 2023, with growth significantly surpassing expectations.  According to the report, most asset segments ...
Retail exposures of NBFCs likely to expand by 12-14% in FY24: ICRA
Retail exposures of NBFCs likely to expand by 12-14% in FY24: ICRA
Source: Accord Fintech
31/05/2023 11:28:27 AM
Jewellery stocks gain on ICRA projecting higher revenue growth for jewellery retailers in FY24 Jewellery retailers’ stocks are buzzing as Icra reported organised jewellery retailers to clock 12-15% revenue growth in FY24 Titan Company is currently trading at Rs. 2710.70, up by 27.80 points or 1.04% from its previous closing of Rs. 2682.90 on the BSE. Thangamayil Jewellery is currently trading at Rs. 1268.00, up by 77.35 points or 6.50% from its previous closing of Rs. 1190.65 on the BSE. PC Jeweller is currently trading at its upper circuit limit of Rs. 24.84, up by 1.18...
Jewellery stocks gain on ICRA projecting higher revenue growth for jewellery retailers in FY24
Jewellery stocks gain on ICRA projecting higher revenue growth for jewellery retailers in FY24
Source: Accord Fintech
24/05/2023 3:12:57 PM
Organised jewellery retailers expected to clock 12-15% revenue growth in FY24: Icra Icra in its latest report has said the organised jewellery retailers are expected to clock 12-15 per cent revenue growth in current financial year (FY24), mainly aided by expansions planned by a majority of large players. It stated organised jewellers are expected to record revenue growth of 12-15 per cent in current fiscal despite a high base and evolving macro-economic environment. Icra expects industry growth to moderate to 8-10 per cent YoY (in value terms) in FY24 with volume growth l...
Organised jewellery retailers expected to clock 12-15% revenue growth in FY24: Icra
Organised jewellery retailers expected to clock 12-15% revenue growth in FY24: Icra
Source: Accord Fintech
24/05/2023 10:21:09 AM
Rs 2,000 note withdrawal may not impact gold demand, rupee value: Expert  The decision of the Reserve Bank of India (RBI) to withdraw Rs 2,000 denomination banknotes from circulation will not have any major impact on gold demand and also on the rupee value, an expert said on Saturday. According to the expert, the number of Rs 2,000 denomination notes in circulation (or stocked in lockers) is not huge. "The number of Rs 2,000 currency notes in circulation is not large. This is not like demonetisation of Rs 500 and Rs 1,000 currency notes that happen...
Rs 2,000 note withdrawal may not impact gold demand, rupee value: Expert
Rs 2,000 note withdrawal may not impact gold demand, rupee value: Expert
Source: IANS
20/05/2023 4:45:27 PM
Explainer-What India`s decision to scrap its 2000-rupee note means for its economy India will withdraw its highest denomination currency note from circulation, the central bank said on Friday. The 2000-rupee note, introduced into circulation in 2016, will remain legal tender but citizens have been asked to deposit or exchange these notes by Sept. 30, 2023. The decision is reminiscent of a shock move in 2016 when the Narenda Modi-led government had withdrawn 86% of the economy's currency in circulation overnight. This time, however, the move is expected to be less ...
Explainer-What India`s decision to scrap its 2000-rupee note means for its economy
Explainer-What India`s decision to scrap its 2000-rupee note means for its economy
Source: Reuters
20/05/2023 10:42:01 AM
Revenues of domestic automobile dealership industry likely to grow by 11-13% in FY24: ICRA Following an estimated expansion of 27-30% in FY23, Credit Rating Agency ICRA in its latest report has said that the revenues of the domestic automobile dealership industry is likely to grow by 11-13% in FY24, aided by 6-9% volume growth and an increase in vehicle prices. It said factors like improving consumer sentiments, as seen through a continued preference for personal mobility and rising disposable income, easing supply-side constraints, better features in the new product models, change...
Revenues of domestic automobile dealership industry likely to grow by 11-13% in FY24: ICRA
Revenues of domestic automobile dealership industry likely to grow by 11-13% in FY24: ICRA
Source: Accord Fintech
18/05/2023 12:25:30 PM
Retail inflation falls to 18-month low of 4.70%, to remain range-bound within 5% in May-June: ICRA With retail inflation sliding to an 18-month low of 4.70 per cent in April 2023, rating agency ICRA foresees the CPI inflation to remain range-bound at 4.7-5.0 per cent in May-June 2023. According to official data, retail inflation was lower in April compared to 5.66 per cent in March 2023, owing to fall in food prices. Aditi Nayar, chief economist and head - research & outreach, ICRA Ltd, while commenting on consumer price index-based inflation, said: "April 2023 was marked by...
Retail inflation falls to 18-month low of 4.70%, to remain range-bound within 5% in May-June: ICRA
Retail inflation falls to 18-month low of 4.70%, to remain range-bound within 5% in May-June: ICRA
Source: IANS
13/05/2023 8:58:35 AM
Retail inflation falls to 18-month low of 4.70%, to remain range-bound within 5% in May-June: ICRA New Delhi, May 12 With retail inflation sliding to an 18-month low of 4.70 per cent in April 2023, rating agency ICRA foresees the CPI inflation to remain range-bound at 4.7-5.0 per cent in May-June 2023. According to official data, retail inflation was lower in April compared to 5.66 per cent in March 2023, owing to fall in food prices. Aditi Nayar, chief economist and head - research & outreach, ICRA Ltd, while commenting on consumer price index-based inflation, said: "April ...
Retail inflation falls to 18-month low of 4.70%, to remain range-bound within 5% in May-June: ICRA
Retail inflation falls to 18-month low of 4.70%, to remain range-bound within 5% in May-June: ICRA
Source: IANS
12/05/2023 8:11:21 PM
Indian commercial vehicle industry volumes likely to grow by 7-10% in FY24: ICRA Rating agency ICRA in its latest report has said that the Indian commercial vehicle (CV) industry volumes are likely to grow in the range of 7-10% in FY24, propelled by replacement demand, pick-up in mining, infrastructure, and construction activities, and overall healthy fleet utilisation levels. It noted that this is despite the 5% YoY and 41% sequential contraction in volumes in April 2023 due to expected price increases with the transition to BS6 2.0 and associated pre-buying in March 202...
Indian commercial vehicle industry volumes likely to grow by 7-10% in FY24: ICRA
Indian commercial vehicle industry volumes likely to grow by 7-10% in FY24: ICRA
Source: Accord Fintech
11/05/2023 12:56:56 PM
ICRA downgrades ratings of Shapoorji Pallonji ICRA has downgraded the ratings of Shapoorji Pallonji and Company to BBB+ from A- and placed it on rating watch with developing implications. The downgrade in the ratings of Shapoorji Pallonji and Company Private Limited (SPCPL) factors in the delay in securing the requisite working capital limits, which has impacted the engineering, procurement and construction (EPC) operations in FY2023, resulting in modest profitability and muted debt coverage metrics compared to ICRA's earlier esti...
ICRA downgrades ratings of Shapoorji Pallonji
ICRA downgrades ratings of Shapoorji Pallonji
Source: IANS
5/05/2023 12:03:31 PM
ICRA revises outlook on telecom tower industry to negative from stable Credit Rating Agency ICRA has revised the outlook on the telecom tower industry to Negative from Stable, as the industry has been facing headwinds in the form of elongated receivables, on account of delays in payments by some of the telecom service providers. As per ICRA, the gross receivable days are likely to remain above the ICRA’s outlook revision threshold of 80 days. The stretch in the working capital cycle resulted in moderation in the liquidity profile of the telecom tower indus...
ICRA revises outlook on telecom tower industry to negative from stable
ICRA revises outlook on telecom tower industry to negative from stable
Source: Accord Fintech
3/05/2023 11:27:55 AM
India March infrastructure output grows 3.6%, a five-month low NEW DELHI - India's infrastructure output expanded 3.6% year-on-year in March, its slowest pace in five months, in part dragged by a contraction in electricity and cement output, government data showed on Friday. The country's infrastructure output last grew at a slower pace, of 0.1% year-on-year, in October 2022. Infrastructure output—which comprises eight sectors, including coal and electricity, accounting for nearly 40% of industrial output—rose 7.6% in the April ...
India March infrastructure output grows 3.6%, a five-month low
India March infrastructure output grows 3.6%, a five-month low
Source: Reuters
28/04/2023 6:42:41 PM
Icra expects tyre sector revenues to grow by 7-9% in FY24 Ratings firm Icra has said it expects a revenue growth of 7-9 per cent for Indian tyre industry in the current fiscal (FY24). It pegs the domestic tyre demand growth at 6-8 per cent for FY24, supported by stable growth in the replacement segment and sustained demand momentum in the OEM (Original Equipment Manufacturer) segment. The rating agency noted that it expects the demand momentum in the OEM segment to continue in FY24 with an estimated growth of 8-10 per cent. It added replacement d...
Icra expects tyre sector revenues to grow by 7-9% in FY24
Icra expects tyre sector revenues to grow by 7-9% in FY24
Source: Accord Fintech
28/04/2023 10:08:00 AM
Indian hotel industry likely to report 13-15% revenue growth in FY24 : ICRA Rating agency ICRA in its latest report has said that the Indian hotel industry is likely to report a 13-15% revenue growth in FY24, notwithstanding the potential impact on demand with further Covid waves, if any. The demand recovery has been strong in the last one year, and ICRA anticipates it to continue in FY24 as well. It noted that sustenance of domestic leisure travel, higher bookings from meetings, incentives, conferences, and exhibitions (MICE), and business travel, along with an incr...
Indian hotel industry likely to report 13-15% revenue growth in FY24 : ICRA
Indian hotel industry likely to report 13-15% revenue growth in FY24 : ICRA
Source: Accord Fintech
26/04/2023 11:33:29 AM
India`s quick service restaurant industry likely to witness 20-25% growth in FY24: ICRA The rating agency ICRA in its latest report has said that India's quick service restaurant industry is likely to witness 20-25 per cent growth in the current financial year (FY24) on account of the demand uptick and increasing penetration driven by a rapid expansion of stores. It noted that over the long-term, revenue growth shall be supported by factors like rising QSR penetration levels, a shift from the unorganised to the organised segment with a preference for branded quick service re...
India`s quick service restaurant industry likely to witness 20-25% growth in FY24: ICRA
India`s quick service restaurant industry likely to witness 20-25% growth in FY24: ICRA
Source: Accord Fintech
21/04/2023 11:56:33 AM
India`s real GDP growth likely to have risen to 4.9% YoY in Q4 FY2023: ICRA Rating agency ICRA in its latest report titled ‘Business Activity Monitor - An Index of High Frequency Economic Indicators’ has stated that India’s real GDP growth is likely to have risen to 4.9% YoY in Q4 FY2023 from the provisional 4.4% in Q3 FY2023, with the softening of commodity price pressures. Notwithstanding higher volumes for most indicators, it said India’s GDP growth is likely to moderate to 6.9% in FY2023 from 9.1% in FY2022 given the margin compression ...
India`s real GDP growth likely to have risen to 4.9% YoY in Q4 FY2023: ICRA
India`s real GDP growth likely to have risen to 4.9% YoY in Q4 FY2023: ICRA
Source: Accord Fintech
21/04/2023 10:00:39 AM
Indian road logistics industry to clock high single-digit growth in FY24: ICRA ICRA has said that the Indian road logistics industry is expected to clock a high single-digit growth this fiscal (FY24) on an elevated base of the previous year. It added that the outlook is stable. It also expects the demand momentum to continue in FY24, aided by stable domestic consumption and investment demand. It mentioned the downside risks to the estimates remain from any material tapering of demand due to high inflationary and interest rate regime, the emergence of any further...
Indian road logistics industry to clock high single-digit growth in FY24: ICRA
Indian road logistics industry to clock high single-digit growth in FY24: ICRA
Source: Accord Fintech
18/04/2023 10:11:08 AM
Domestic air travel records nearly 60% YoY growth in FY23, challenges continue Domestic air travel witnessed nearly 60 per cent YoY growth in FY2023 but is still 4 per cent lower than pre-Covid levels. Despite healthy recovery in passenger traffic, the domestic aviation industry continues to face challenges on account of elevated ATF prices and depreciation of the Indian rupee with respect to the US dollar, both of which have a major bearing on the airlines' cost structure, said an ICRA report on domestic aviation sector. Fuel costs account for nearly 30-40 pe...
Domestic air travel records nearly 60% YoY growth in FY23, challenges continue
Domestic air travel records nearly 60% YoY growth in FY23, challenges continue
Source: IANS
13/04/2023 10:03:10 AM
ICRA estimates NBFCs, HFCs securitisation volumes at Rs 61,000 crore in Q4 FY23 Credit rating agency ICRA in its latest report has estimates that securitisation volumes, originated largely by non-banking financial companies (NBFCs) and housing finance companies (HFCs), at Rs 61,000 crore in Q4 FY2023, the highest quarterly volumes seen since the onset of the Covid-19 pandemic. The volumes for the quarter are largely dominated by securitisation of retail loans (90%). The overall securitisation volumes in FY2023 stood at Rs 1,78,000 crore, i.e. a healthy 41% expansion over...
ICRA estimates NBFCs, HFCs securitisation volumes at Rs 61,000 crore in Q4 FY23
ICRA estimates NBFCs, HFCs securitisation volumes at Rs 61,000 crore in Q4 FY23
Source: Accord Fintech
12/04/2023 11:37:58 AM
Electric three-wheelers likely to gain traction going forward: ICRA Domestic credit rating agency ICRA in its latest report has said that electric three-wheelers, including e-rickshaws are expected to gain traction going forward due to favourable operating economics and the government's focus on cleaner means of transportation, particularly for commercial applications. It said the electric segment is likely to account for 14-16% of new three-wheeler sales (excluding rickshaws) by FY2025, up from 8% currently. It also said penetration is estimated to ...
Electric three-wheelers likely to gain traction going forward: ICRA
Electric three-wheelers likely to gain traction going forward: ICRA
Source: Accord Fintech
28/03/2023 1:00:05 PM
ICRA revises industry outlook for NBFC-IFCs to positive from stable The rating agency ICRA in its latest report has said that the overall infrastructure credit (including banks and non-banks) registered an annualised growth of 8% in 9M FY2023 aided by a sharp pickup in Q3 FY2023, bucking the trend of the previous 18 months. It noted that non-banking financial companies - infrastructure finance companies (NBFC-IFCs) grew in line with the system and maintained their market share at around 54% as on December 31, 2022. According to the report, the increased de...
ICRA revises industry outlook for NBFC-IFCs to positive from stable
ICRA revises industry outlook for NBFC-IFCs to positive from stable
Source: Accord Fintech
24/03/2023 12:00:18 PM
ICRA upgrades CMS Info Systems Ltd. ICRA upgrades the long-term credit rating of CMS Info Systems Limited’s (CMS) from AA to AA+. This rating upgrade factors strengthening of CMS’s credit profile, as marked by steady revenue growth, improvement in profit margins, comfortable capital structure and strong liquidity position.   Commenting on the rating revision, Mr. Rajiv Kaul – Exec VC & CEO, CMS Info Systems said “The rating upgrade is a reflection of our strong business which has...
ICRA upgrades CMS Info Systems Ltd.
ICRA upgrades CMS Info Systems Ltd.
Source: PR Agency
23/03/2023 12:26:56 PM
Icra revises domestic steel demand outlook to 8% for next financial year Icra in its latest report has said that it revised its outlook for domestic steel demand to 7-8 per cent for the next fiscal. Earlier, it had estimated the demand to grow in the range of 6-7 per cent. It mentioned with the central government's capex outlay in FY2024, Icra has revised upwards its steel consumption growth estimate for FY24 to 7-8 per cent. In 2023-24, the capital expenditure is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. In the ongoing fiscal ...
Icra revises domestic steel demand outlook to 8% for next financial year
Icra revises domestic steel demand outlook to 8% for next financial year
Source: Accord Fintech
23/03/2023 10:55:52 AM
Domestic pharmaceutical industry likely to witness revenue growth of 6-8% in FY24: ICRA Rating agency ICRA in its latest report has said that domestic pharmaceutical industry is expected to witness a revenue growth of 6-8 per cent in the next fiscal (FY24). Despite several disruptive events, the Indian pharmaceutical market (IPM) witnessed a healthy CAGR of 10.9 per cent between FY2012 and FY2022. According to the report, structural factors such as ageing population and continued rise in lifestyle/chronic diseases, in addition to WPI-linked price hikes for NLEM products, new ...
Domestic pharmaceutical industry likely to witness revenue growth of 6-8% in FY24: ICRA
Domestic pharmaceutical industry likely to witness revenue growth of 6-8% in FY24: ICRA
Source: Accord Fintech
17/03/2023 12:26:16 PM
Domestic air passenger traffic likely to have touched around 1.19 crore in February: ICRA Rating agency ICRA has said that domestic air passenger traffic is projected to have touched around 1.19 crore in February 2023, only about 4 per cent lower compared to pre-Covid levels. Icra has also revised the outlook for the domestic aviation industry to stable from negative, citing a fast-paced recovery in domestic passenger traffic in FY 2023 and the expected continuation of the same in FY 2024. According to the report, for February 2023, domestic air passenger traffic has been estim...
Domestic air passenger traffic likely to have touched around 1.19 crore in February: ICRA
Domestic air passenger traffic likely to have touched around 1.19 crore in February: ICRA
Source: Accord Fintech
14/03/2023 11:24:44 AM